B-Team Report for Friday's grain trade

Well, the profit-taking's come and gone, and while the overnight and early losses have been trimmed somewhat, the grains are still lower across the board: Nearby corn's 10 3/4 lower, soybeans are 11 3/4 lower and wheat's 20 lower. Sounds like the trade's still eyeballing this "moderate" forecast. But, what exactly is "moderate" when you compare it to 100+ degrees? Still pretty warm, right? Anyway, sounds like this could be the theme the rest of the day as traders trim back some risk ahead of the weekend.

So, is the mercury going to dip at your place in the next few days?

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Whoa, Nellie! I guess traders saw yesterday's sharp gains as just the opportunity they needed to take some profits, and that's exactly what they did, sending grain futures sharply lower overnight. And, that tone's expected to spill over into Friday's open outcry session. As of a couple minutes ago, July corn's down 18 1/4 at $6.90 1/4, while July beans are 19 1/2 lower at $15.07 and July wheat's 28 lower at $8.10. Yikes. All eyes remain on the forecast, though, and with an outlook that includes some cooling temperatures over the next few days in the Corn Belt, that's enough to send prices back lower a bit. Here's a little more on that.

But, will it last? Even if temps moderate, will it mean any change in your crop conditions? Who's got some pictures of your fields to share? We'd love to see 'em on here!

Anyway, Mike's still probably up to his eyeballs in diapers and pacifiers today, so the B-Team's in. Don't shoot the messenger!

Re: B-Team Report for Friday's grain trade

I don't know if any of you boys have looked at the informa numbers released today but I just saw this from a trader on twitter: informa puts IN #corn yield at 150bpa vs. 146bpa last year, IL at 158 vs. 157 LY and MO at 130 vs. 114 LY. I believe they said 153 national? If I was one of their customers I'd ask for my money back